South Korean financial stocks gain as global banking turmoil woes ease

Shinhan Financial

20/03/2023 01:19

** South Korean financial stocks gain as worries ease across
global markets over banking turmoil
    ** KB Financial Group  105560.KS  rises 1.1%, Shinhan
Financial Group  055550.KS  gains 0.9%, Woori Financial Group
 316140.KS  climbs 0.8% and Hana Financial Group  086790.KS 
adds 0.6%
    ** UBS  UBSG.S  takeover of Credit Suisse  CSGN.S  and
global central banks' liquidity measure provide relief across
global markets
    ** "Uncertainties eased for local banks, which cannot be
free from uneasiness in the global banking system," says analyst
Choi Jeong-wook at Hana Securities
    ** The Korea Exchange Bank Equity Index  .KRXBANK  is up 1%,
the Finance-major Index  .KS49  and Securities-minor Index
 .KS53  are each up 0.2% and 1.9%, while the benchmark KOSPI
 .KS11  is up 0.1% as of 0102 GMT

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))